Tag Archives: Companies

Receivers for the collapsed Mainzeal Property and Construction say they hope to see work resume or responsibility returned to clients “in the near future” on the numerous projects that stopped in their tracks three weeks ago, when the receivership was announced. The second largest construction firm in the country, Mainzeal announced its receivership on Waitangi Day, Feb 6. The collapse …

Fisher & Paykel Healthcare, which makes breathing masks and respirators, lifted its full-year guidance a second time as demand for new breathing masks helps speed sales and margins widen. The shares jumped 6.8 percent on the news. Net profit would rise be about $75 million in the year ending March 31, up 17 percent from a year earlier, the Auckland-based …

National Australia Bank is calling in $449.7 million of BNZ Income Securities perpetual shares which pay a coupon of 9.89 percent, the highest of any hybrid security traded on the NZX Debt Market. The perpetual non-cumulative shares were issued on March 28, 2008, when prevailing interest rates were much higher. For example, New Zealand two-year swaps have tumbled more than …

Fletcher Building, the biggest company on the NZX 50 Index, posted a 1 percent gain in first-half profit as home building and Canterbury reconstruction in New Zealand made up for declining Australian earnings. The stock fell on the results. Profit rose to $146 million in the six months ended Dec. 31, from $144 million a year earlier, the Auckland-based company …

Trade Me, the online auction site spun out of Fairfax Media in 2011, lifted first-half profit 2.7 percent, beating the forecast in its offer document as its classified advertising rallied. The company signalled plans for more add-on acquisitions. Net profit rose to $37.4 million, or 9.43 cents per share, in the six months ended Dec. 31 from $36.4 million, or …

Hellaby Holdings, the diversified investment company, posted a 21 percent drop in first-half profit on weaker earnings from its shoe stores and higher corporate costs, and forecast a decline in annual profit. Profit fell to $6.2 million in the six months ended Dec 31, from $7.8 million a year earlier, the Auckland-based company said in a statement. Sales rose 1 …

The government’s decision to go-ahead with a deal offering land and regulatory concessions to SkyCity Entertainment Group for a $350 million convention centre was tainted by sloppy processes, though the final sign-off was probably alright, according to the Auditor-General’s probe. That’s despite finding there were inappropriate meetings between Ministers and officials and a process that treated the SkyCity bid differently …

Ebos Group, the healthcare and animal care products company, lifted first-half profit by 29 percent on the contribution of its Masterpet business, acquired a year earlier. The first-half dividend has been bumped up 30 percent. Profit was $14.6 million, or 29 cents a share, in the six months ended Dec. 31, from $11.6 million, or 22 cents, a year earlier, …

 Contact Energy needs to raise its return on capital closer to international norms, but sees little capacity to do so by raising electricity prices in the next two or three years, says chief executive Dennis Barnes. In a briefing following the announcement of an $88 million tax-paid profit for the six months to Dec. 31, up 29 percent on the …

Precinct Properties New Zealand, formerly known as AMP NZ Office, posted a 1.5 percent decline in first-half net operating income as costs rose and occupancy fell. It lifted its first-half dividend for the first time since 2008. Operating profit, which excludes some non-cash items and is used as the basis of dividend policy, was $26.2 million in the six months …